IT asset disposal specialist S2S Group has secured a £500,000 investment from Bailie Group, which now holds a 25% stake in the company. The move is part of S2S’s strategy to scale operations and deepen its footprint in the defence sector, where secure data destruction is a growing priority.

The Rotherham-based company has seen rapid growth in recent years, supported by expansion into London and Glasgow. In 2024 alone, S2S processed over 217,000 end-of-life IT assets, with 81% recycled and 19% resold. The firm is targeting 21% growth this year, aiming to reach £5.8 million in annual revenue.

Bailie Group’s investment is expected to accelerate S2S’s focus on high-security services such as electronic and remote data wiping, capabilities increasingly in demand among defence, finance and education clients.

For Bailie Group, whose portfolio includes communications and consultancy businesses, the deal represents its entry into the secure data disposal market. The acquisition aligns with its strategy of backing organisations that intersect security, sustainability, and innovation.

S2S plans to leverage Bailie Group’s strategic input and sector reach as it builds out its contract portfolio, particularly in high-assurance industries.

Northern Gritstone has partnered with Parkwalk Advisors to launch the Northern Universities Venture Fund, a new EIS fund focused on early-stage, IP-rich science and deeptech spin-outs. The fund draws from the Universities of Leeds, Liverpool, Manchester, and Sheffield, with targeted sectors including quantum computing, AI, engineering biology, semiconductors, healthtech, and clean technology.

Parkwalk, which manages over £500 million in assets, will oversee the fund, while Northern Gritstone provides access to spin-out opportunities through its long-term agreements with the four partner universities. This model positions the fund as a differentiated channel within the university-linked EIS landscape.

The initiative follows Northern Gritstone’s recent £50 million capital raise, bringing its total committed funds to £362 million. The new venture aims to broaden investor access to high-potential innovations emerging from the North of England’s research base, with a particular focus on high-net-worth individuals seeking exposure to early-stage deeptech.

Middlesbrough-based logistics provider AV Dawson Transport has completed a trial of a 42-tonne fully electric HGV, clocking over 1,800 miles in just 10 days. The pilot, delivered in partnership with fleet electrification specialist VEV, demonstrated a 2.3-tonne reduction in carbon emissions across 42 commercial journeys.

The initiative is part of AV Dawson’s wider strategy to decarbonise its haulage operations, which account for over 80% of the group’s direct emissions. With the potential to slash emissions by more than 90% through full electrification, the company is now evaluating long-term integration of alternative fuel vehicles into its fleet.

The trial also has significant implications for clients, such as British Steel, by helping them reduce Scope 3 emissions, indirect emissions from their supply chain. As industrial firms face increasing pressure to meet net-zero targets, logistics partners like AV Dawson play a growing role in enabling emissions reductions across complex value chains.

VEV provided the end-to-end infrastructure for the trial, including vehicle supply, charging solutions, and real-world performance data. The company, backed by a major global energy firm, is targeting the widespread electrification of commercial fleets through managed trials and consultancy services.

With HGVs representing a large share of transport emissions in the North East—around 40%, this pilot marks a step forward for sustainable freight in one of the UK’s most industrially intensive regions.

A research partnership between the University of Leeds and the University of Nottingham has secured £1.8 million in funding from the Engineering and Physical Sciences Research Council (EPSRC) to advance pharmaceutical manufacturing in the UK.

The project, known as R4PID (Reconfigurable, Robotic & Responsive Reactors for Processes through Intensified Development), will focus on developing smart manufacturing technologies that accelerate drug production, cut environmental impact, and lower operational costs. The initiative is designed to align with the UK’s net zero goals and the sector’s shift toward automation and digitalisation.

R4PID will integrate AI-controlled reactors, machine learning, and advanced process monitoring to create more responsive and efficient production systems. Industrial collaborators AstraZeneca and ChemAI co-developed the project, which aims to reduce waste and improve materials efficiency in the pharmaceutical supply chain.

This initiative is one of six EPSRC-backed projects that together received nearly £7.5 million in funding. Each project was developed in collaboration with industry and centres on sustainable, high-tech approaches to manufacturing, reinforcing the UK’s growing reputation in research-driven industrial innovation.

Corporation tax non-compliance has become the dominant factor in the UK’s growing tax gap, accounting for 40% of the £46.8 billion shortfall in 2023–24, according to new HMRC figures. The corporation tax gap rose to 15.8%, the highest level in over a decade.

Small businesses are now the biggest contributors to the overall tax gap by customer group, making up 60% of the shortfall, up from 48% five years ago. HMRC attributed the trend largely to rising non-compliance in this segment.

Despite a slight improvement in overall tax compliance, with 94.7% of tax liabilities collected, the data highlights an increasingly uneven picture. The combined shortfall in income tax, national insurance, capital gains tax, and VAT has continued to decline. In contrast, corporation tax compliance is slipping.

Personal taxpayers and high-net-worth individuals now represent just 10% of the tax gap. Still, HMRC warned of a growing risk of accidental non-compliance due to more people being drawn into the tax system through frozen thresholds and reduced allowances.

The release comes amid heightened scrutiny of HMRC’s operations, following public service complaints and a major phishing incident that resulted in £49 million being stolen through compromised tax accounts. The Treasury has pledged to recover £7.5 billion through stricter compliance measures.